Among the three companies affiliated with the Ehwa Group, ETRON and Ehwa Technologies Information began preparations for delisting after a trading suspension of more than two years, causing stock prices to plummet.
As of 9:21 a.m. on the 1st, ETRON shares started trading at 20 won in the KOSDAQ market. The stock price fell by 251 won (92.62%) compared to before the trading suspension. At the same time, Ehwa Technologies Information shares started trading at 107 won. The stock price decreased by 792 won (88.1%) compared to before the trading suspension.
During the preparation for delisting, individual competitive transactions occur at a single price every 30 minutes. Unlike regular transactions, there are no daily price limits (upper and lower limits), resulting in significant volatility.
Ehwa Technologies Information and ETRON had their transactions suspended after prosecutors sought an arrest warrant for former Ehwa Group chairman Kim Yong-jeon on embezzlement and breach of trust charges. Subsequently, on the 28th of last month, the Korea Exchange announced the resumption of the delisting process for these companies, and the preparation for delisting began on that day. The deadline is the 9th of this month.
Previously, Ehwa Technologies Information and ETRON had already been in a state of delisting decision since February 14, but the delisting procedure was temporarily halted due to a request for a provisional injunction to suspend the effect of the decision.
Meanwhile, the preparation for delisting of EID is from September 2 to 10.